Advanced manufacturing magnet for foreign firms amid upgrades

Beijing Foton Daimler Auto said it will keep strengthening its research and development capabilities, and deepen its work with its Chinese tech partners in fuel cells and other fields.

"The Mercedes-Benz truck plant obtained a plant permit for producing new energy vehicle products this year, which lays the foundation for us to seize further opportunities of technology innovation," Scherr said.

"BFDA must and wants to leverage the innovation edge of the Chinese market," he added.

Industry insiders believe that now is a good time for foreign-invested firms to ride the wave of China's development of new quality productive forces, which entails strategic opportunities for industries including artificial intelligence, internet and new energy, among others.

China announced the launch of the "artificial intelligence plus" initiative at the annual sessions of the country's top legislature and top political advisory body — the two sessions — which wrapped up in March.

Zhang believes multinationals could take advantage of the cooperation with Chinese firms on digital economy and AI technologies to gain a better understanding of the Chinese market and its technological environment, as well as share in its innovation achievements.

"China's AI technology is on a fast track to make breakthroughs in its perception, deduction and generalization abilities. It will prompt leapfrog development of the manufacturing sector in terms of production efficiency, quality control and cost savings," Zhang said.

Xinhua